Major Changes at Adam’s Mountain

Owner Fred Kummer’s HBE Corporation has “decided to liquidate the entire assemblage”

Jon Rizzi | Colorado AvidGolfer

Adam’s Mountain Country Club’s alphabetical advantage over every Colorado golf facility hasn’t helped the eight-year-old club in Eagle County’s Brush Creek Valley. Opening on the eve of the recession in 2007, the private golf development has struggled to attract members and homebuyers, despite sitting on 2,655 stunning acres with a brilliant Tom Weiskopf-designed golf course and a fully outfitted 40,400-square-foot clubhouse. Five spec homes, five member cottages and 91 residential lots pepper the property, which also features an operational 1,553-acre ranch with the potential for up to 114 additional residential units.

But after investing upward of $100 million to create all this—and millions more to operate it—owner Fred Kummer’s HBE Corporation “decided to liquidate the entire assemblage,” according to documentation provided by Denver-based Brue Capital Partners.

As our April issue went to press, Brue was orchestrating an acquisition by equity investors in the $20 million to $30 million range. Plans do not call for the sale of the golf course, which operates at a substantial loss but is critical to the sale of the lots. Plans do call for an increase in membership, which will likely mean a drop in the initiation ($60,000 nonrefundable; $150,000 refundable) and monthly dues.

Stay tuned to coloradoavdigolfer.com for more details as they emerge.

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